Mexico’s Cemex, one of the world’s largest cement producers, agreed to the sale of assets in the Baltics and Nordics to the German building materials group SCHWENK, for approximately €340m ($385m). Monterrey-based Cemex will use the money from the deal to reduce its debt. The firm has aggressively seeking to slash debt and regain its investment-grade rating. Consolidated operating EBITDA generated by the divested assets was approximately €27m ($31m) in 2018.